Airbnb country manager
Amanpreet Bajaj realised early on the potential of the Internet to build communities. Bajaj worked for American Express and Ernst & Young before developing his first
startup, Letsbuy.com, in 2009. It transformed people’s shopping habits. “We were the first players to venture into e-commerce in India,” he told TOI. “Flipkart that time was selling books, we sold electronics.”
You co-founded Yankee Delhi in 2000 while still in college —how did that idea originate, and what did it teach you?
My first stint as an entrepreneur was back in Delhi University while doing my Bachelors in IT. This was a time when the Internet was still young. A group of friends wanted to check out events happening in the city. (But) there was no central depository, no forum (or) place to discuss your views as a community. So we decided to create a youth portal. The name ‘Yankee’ sounds hilarious but it was actually chosen by the audience via an online poll. It was certainly a great opportunity to mingle with the youth and dabble in city-specific issues.
What it taught me was the attitude to create things from scratch. It gave me the confidence that if you have an idea, you can always build things up — all of that has come true with Airbnb. Yankee Delhi ran for a couple of years, but after graduation all friends left for other places and careers. That stint shaped my career — it was a great experience.
What have you learnt from your failures?
As with every startup, there are good days and bad days. Ask any startup founder — how do they solve a new problem every day? But more than challenges, startups give you opportunities to be turned into gold. Letsbuy.com was the fundamental phase of my career, a rollercoaster ride.
But growing any sort of enterprise teaches you resilience, and the ability to adapt. When you create
an enterprise you are not only responsible for your actions but (also) how they will impact your employees — when I meet my ex-employees, who are now VPs
and CFOs at big firms, they thank me for teaching
them the intricacies of the trade.
How does Airbnb compete with, say,
OYO Rooms and Zostel?
Millennials want to travel more, so there is no competition with OYO and the likes. I believe we can all co-exist under the hospitality umbrella. Hospitality in India is a vast market, (and) with more choices, there is an appetite for more services — so, we strive to provide more personalised and local experiences.
You have always, in your interviews, spoken about your mentor Brian Chesky. Which lessons of his have you taken on board?
Brian co-founded Airbnb in an apartment in San Francisco. He is a great example of a leader who kept the community’s interests at heart, and empowered it economically. He is a leader with compassion, who cares about his staff, stakeholders and the community. In a nutshell, he has impacted many lives and there is a lot to learn from him.
